Generic clubs in financial crisis Thread

[Arch]

they're just to the left of her tits - it's not a huge picture

I think she meant, why would you care that she's got a blokes hands when for the most part you'd be looking elsewhere. On the other hand (so to speak), you wouldn't really want your dick manhandled...

[papereyes]

David Sullivan - porn merchant.

[Deadlock]

Pompey's transfer embargo stays and their TV cash goes to creditors.

Doomed.

The BBC article on this mentions other Premier clubs and foreign clubs, but nothing about Watford. Wonder if they'll get any of what they're owed?

[Ian Royal]

Pompey's transfer embargo stays and their TV cash goes to creditors.

Doomed.

The BBC article on this mentions other Premier clubs and foreign clubs, but nothing about Watford. Wonder if they'll get any of what they're owed?

They have to unless Pompey cease to be.

But I suspect their lower priority as they are a) not Premier League and b) the signings were in the last window so the debt is newer.

Assuming Pompey have failed to meet any payments for them yet. I suspect they manage the upfront payments, but then just neglect to make any follow up ones.

[Arch]

I don't understand how they can still owe money for Johnson. I'd have thought it should be required (whether by law or by FA rule) that if you receive money for sale of a player that you still owe for, the money owed should be paid out of the sale proceeds immediately.

[Pseud O'Nym]

I don't understand how they can still owe money for Johnson. I'd have thought it should be required (whether by law or by FA rule) that if you receive money for sale of a player that you still owe for, the money owed should be paid out of the sale proceeds immediately.

Pompey have received VAT on sales, deducted PAYE and NIC from players wages and not passed it on to HMRC. If they're going to do that I don't see they'd baulk at much else.

Reading that Beeb piece makes me realise that it's quite possible their contracts with some players could be void, if they've broken the terms of the contracts with the selling clubs.

Doomed.

[Smoking Kills Dancing Doe]

Didn't they do Al Capone for tax evasion?

I hope they fcukin do get him.

http://www.teamtalk.com/football/story/ ... 95,00.html

[Baines]

got a bloke's hands though hasn't she

She'd probably be better at wanking me off then.

[Pseud O'Nym]

got a bloke's hands though hasn't she

She'd probably be better at wanking me off then.

Cleavage like that, who needs hands?

[Huntley & Palmer]

Pompey are taking the Premiership to the court of arbitration over the transfer embargo placed on them, they are also looking to overturn the decision on the £2 million of TV revenue that they should have been paid.

This is getting interesting

[Silver Fox]

Christ, if I was Pompey I'd be thanking the premier league profusely for thinking it was in its interest to keep them afloat. Time to cut them adrift I think

[Smoking Kills Dancing Doe]

The David James deal fell through becuase the PL demanded most of the money went straight to the PL. Pompey then tried to change the deal with Stoke.

Certainly never heard of anything like that b4.

[Ian Royal]

Pompey is fooked. The only question is can they make the start of next season before they completely implode?

[Arch]

I strongly suspect a big part of what is going on is that Al Faraj is temporizing to see if there's any chance of them staying up. If not, he'll probably throw in his hand and Pompey will be utterly screwed.

[Huntley & Palmer]

When it rains, it shits it down

http://www.telegraph.co.uk/sport/footba ... rdict.html

The club's appeal against the winding-up order was heard in camera at the High Court on Monday, with a decision expected on Tuesday morning. HMRC say that the club owe more than £11 million in unpaid tax, but the new owners claim to have paid off £4 million and dispute the total claimed by the Inland Revenue.

On Monday they argued that they needed more time to discuss their liabilities with HMRC and urged the judge to quash the winding-up petition.

If the club are successful, it will give the new owners time to address the financial issues at the club. If the judge rules in favour of HMRC the case will be heard on Feb 10, with Portsmouth in real danger of becoming the first Premier League club to be forced into administration.

Portsmouth are also in dispute with the Premier League, which has imposed a transfer embargo because of unpaid debts to creditors. Last week the League distributed £5 million of a £7 million tranche of broadcast revenue to creditors including Chelsea and Tottenham, but held back the balance.

The League has said this is as security against future defaults by Portsmouth but this goes beyond the remit of league regulations.

Executive director Mark Jacob wrote to the League last week pressing for the money to be handed over and the embargo to be lifted by Tuesday. He is understood to have suggested that the matter be settled by arbitration if the League does not hand over the money.

The breakdown in relations with Gloucester Place is the latest stage in a calamitous season at Fratton Park which has seen the players paid late three times in four months, twice since the new regime of Ali Al-Faraj took over in October.

[Silver Fox]

Portsmouth are also in dispute with the Premier League, which has imposed a transfer embargo because of unpaid debts to creditors. Last week the League distributed £5 million of a £7 million tranche of broadcast revenue to creditors including Chelsea and Tottenham, but held back the balance.

The League has said this is as security against future defaults by Portsmouth but this goes beyond the remit of league regulations.

I didn't realise that was what they'd done, if so the league are definitely in the wrong, although it would be nice if Pompey said they were going to use the money to pay other debts they have to people less important than extrememly rich premier league clubs

[Huntley & Palmer]

'xactly. This sounds like the Premier League looking after their own and leaving Pompey out in the cold. Sounds like Portsmouth have a case on this basis, it's all turning into a big mess of the Premier League to be honest. No surprise though really

[Royal Rother]

Sullivan and Gold conclude their deal to take operational control of West Ham.

The club was over £100m in debt.

Yet it seems like they have paid £50m for 50% of the club.

Maybe they've got their debits and credits mixed up.

Sullivan was in tears in the interview at one point - he said it was because West Ham was the club where he always wanted to end up and now he has achieved it. I suspect it's more likely because someone opened up Frank Wood's book at the appropriate page mid-interview.

[wolsey]

SSN reports that Portsmouth have failed in their attempt to block winding up hearing.....one step nearer the edge.

[Bowman's Quiver]

Beginning of the end for Portsmouth possibly.....

http://www.portsmouth.co.uk/sport/Pompe ... 5994150.jp